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I don't keep company with pi55heads pumpky - they bore me - so no chance of that.
I bet you are the life and soul at a party;You depress me just by posting on here"Think I would turn to drink if I had to have you in my company for an evening
'Going to have a few weeks off' - off this BB I hope - but you really can't keep away can you?
Top tip: Spend some of your profits taking a course in basic written English (maybe you can do an online course in Wetherspoons - a win-win for you that?). Glad you feel you've got a sense of humour - but in my experience pi55heads always think they are hilarious - when they are pi55ed that is.
Glad you believe everything I post;obviously have you have no sense of humour; Going to have a few weeks off:"Spending my profits:Will you be spending your profits?
A pi55head and proud of it eh pumpky?
We will all be on the Champers soon.
Yep;be spending my profit in there this weekend
Well you would know eh?
Cannot beat a 9am breakfast and a nice ale
As you can't differentiate between has and hasn't you're clearly well pi55ed already - early start at Wetherspoons was it?
Hasn't
Hopefully wife has consumed it all before I get home
Oh well, that should keep you pi55ed until tomorrow - don't want to go home sober eh? - family might not recognise you!
So the vatic sales are going to re rate the Sp? I'm not selling my SIPP at a loss;just have to wait and see what happens:Purchased 12 bottles from Naked Wines with part of my profit;Dont drink Cider ma cherie
Zoom is correct - this company is totally doomed - you should sell all your shares whilst they can still buy you a few tins of cider to help keep you in the state to which you have become accustomed (hic).
Good point Pumky. You should dispose of your remaining shares and invest elsewhere. As you repeatedly point out, this is going nowhere so no point in hanging around.
Vatic ordered 600,000 tests;for professional use only;why do you think their sales will re rate the SP?(unless the get US certification)
Happy
Good assessment of what's going on at ABDX. Other shares report results and the sp doesn't fluctuate no where near as badly as abdx.
Once VATIC figures come in from sales then this should re rate quite significantly dependent on sales figures IMO
JJ,
Mostly fair points I can’t argue with but I would say ABDX financials ‘keeping lights on’ are not as bad as you make out.
In 2020 they made an operating profit of £3.3 million.
In 2021 it was a loss of £6.7 million. It was in this year the £8.9 million should have been paid. So if this was paid on time they would have made a profit (£2.2 million) that year also.
Yes, we know they had a terrible last 6 months of last year and the first few months of this year will not be great reading either, but they are still hardly a company haemorrhaging money. Like most companies they have had a bad period but on average over the past two years they have been doing ok in financial term.
I agree, they need to prove they can make a good test and manufacture it in numbers and that is what will bring the market confidence back.
Said it before, on the outskirts didn’t make or sell many tests during a pandemic, not a good look! However, small firm being asked by the government to make a test on the promise they may get a £75 million contract for it. Of course! they would go for that. They made a good test it’s just the government realised later they had asked them to make the wrong type of test.
Avacta test, made to spec would have been great and sold in high numbers if we still had Delta as the dominant variant. Literally days before ready to be sold in millions Omicron come along.
Vatic, clearly made to spec and TT successfully as its been accepted by them.
These guys are good at making tests and doing TT’s but just not found that one (bad luck) that has sold in numbers yet!.. agree proof is in the pudding and this is what is needed and I’m sure will come.
What we do have is a large director holding to include a placing at 25p before the £2.7M order and DHSC payment , why should the MCAP be the same as after these two events of £10M combined
Gosie123 imo Covid is not over - USA just approved next autumn rollout of shots to the general population; ditto UK has an autumn programme in place. and in case you haven't noticed all sorts of viral infectious diseases re-emerging from the past but more virulent , for which better diagnostics will be needed
I meant blind reliance from our point of view, as we have don't have much 'sight' of what's going on, rather than implying fanatical 'blind hope' based on nothing. Poor phrasing.
Using 'hope' in contrast to certainty... hoping the prospective deals come good, in contrast to, contracts signed and money obligated*
*which you'd think would be a sure thing....DHSC.
I agree with your post in the main but the last tranche of communications to me indicate that Abingdon aren’t relying on hope for new business. It’s just a shame there have been caveats with pretty much every announcement. One solid piece of near term manufacturing news will change this.
If we're going to presume rationality (and I wouldn't necessarily); surely the only rational answer is that DHSC money was already priced in, and/or, money in ABDX's pocket isn't perceived as leading to growth - it's just going to pay the bills of loss-maker a bit longer?
While we're relived that some money is forthcoming, let's remember that it's only the settling of an old invoice at a discount of approximately 25%. There's not much 'win' in this; paid less than owed, questionable exploitable value of components in lieu of cash, interest forgone... It could've been worse, but objectively, it's a loss.
There's also a view; does this money make much different to the operating outlook? Does it actually change anything?
Yes, it provides runway and delays the threat of another raise (and seriously who would partake in that - what price for a second raise?), but this late under-paid windfall isn't on-going business, and it doesn't clearly lead to expansion/growth - indeed ADBX already has excess un-utilised capacity (for understandable reasons) seemingly unproductive and depreciating -- and it's that cash burn that we're seeing represented here. The DHSC money has only delayed the bleed out ... we need new income streams.
Lastly; some nonsense accounting on here: assets + cash with assets priced at purchase price. Unproductive assets are liabilities, and their value out of administration is 10-20% purchase, if lucky. With obligations and liabilities, perfectly possible for a company to be worth less than the cash it has in the bank.
What the market is saying is that £6.8m is worthless in a fully expanded company and is only going to be burnt keeping the lights on longer. The blind reliance on hope on new business is unchanged, we just have a bit longer to find it.
Year agree with all you wrote there Gosie but there still needs to be a line.
If I brought a house for £1 million to rent out as a business. I create 1 million shares in the business for £1 each.
My shares go out of fashion and drop to 50p value. I (or someone) can now buy all shares so take full ownership of the house for £500,000 yet the real market value of the house is still £1 million.
ABDX are now in this scenario. If they liquidated themselves tomorrow. Cash, Cash owed, property and equipment, value of the patents they own on their tests, App reader etc would all equal a lot more than the combined value of all the shares. This is not including any real or potential value of any of the business (the £2.7 million order, the 10 million test order etc)
Whatever the market conditions this is a very, very rare thing to happen. It surely must be corrected at some point, either by the market clocking on or someone coming in with a takeover offer.